Titagarh Rail Systems Q3 Results: Profit Rises 129%, Beats Estimates

Titagarh Rail Systems Ltd.'s net profit increased in the third quarter of fiscal 2024.

The company's consolidated net profit jumped 129.9% year-on-year to Rs 74.8 crore in the quarter ended December, as compared with Rs 32.6 crore over the same period last year. Analysts polled by Bloomberg had estimated a profit of Rs 72.5 crore.

Revenue from operations rose 24.6% to Rs 954.7 crore in the October-December period, as against Rs 766.4 crore last fiscal, though it missed analyst estimates of Rs 1,116.6 crore.

• Revenue rose 24.6% to Rs 954.7 crore vs Rs 766.4 crore (Bloomberg estimate: Rs 1,116.6 crore).

• Ebitda increased 52.3% to Rs 110.7 crore vs Rs 72.7 crore (Bloomberg estimate: Rs 106 crore).

• Ebitda margin expanded 210 basis points to 11.6% versus 9.5% (Bloomberg estimate: 9.5%).

• Net profit up 129.9% at Rs 74.8 crore vs Rs 32.6 crore (Bloomberg estimate: Rs 72.5 crore).

Revenue growth was primarily led by the company's larger segment i.e. freight rail systems, which recorded a 39.6% growth in the quarter to Rs 853.8 crore. However, the passenger rail systems segment declined 34.8% to Rs 100.9 crore during the quarter.

Shares of Titagarh Rail Systems fell 4.2% in Friday's trading session, as compared with a 0.7% gain in the Nifty 50.